Crypto Advocates Reach 1 Million Contacts with Congress on Clarity Act

Crypto advocates have contacted Congress nearly 1 million times in their push for passage of the CLARITY Act, according to Stand With Crypto. The organization highlighted this outreach as lawmakers face a narrowing legislative calendar and approach the August recess.

The bill would create a federal regulatory framework for digital assets and clarify when the Securities and Exchange Commission (SEC) or Commodity Futures Trading Commission (CFTC) oversees a cryptocurrency or market intermediary. Major financial institutions, including Fidelity and Goldman Sachs, have expressed support for the legislation, arguing that nationwide rules would strengthen investor confidence and give businesses greater regulatory certainty.

The Fraternal Order of Police, which represents 382,000 active and retired officers, also endorsed the revised bill after changes preserved protections for criminal investigations, suspicious-transaction holds, and digital asset seizures. However, seven Senate Democrats oppose the latest draft, citing concerns over ethics, consumer protection, illicit finance, conflicts of interest, and market integrity.

Negotiators are expected to continue discussions, but the unresolved dispute leaves the timing of Senate action uncertain.